Cash Flow Drought: How to Identify and Deal with It

Cash flow management can be particularly challenging. You need to account for the time lag between cash going out and cash coming in. This requires financial and management discipline, strong internal policies and procedures for billing and collection policies, planning and attention to detail.

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Have you ever heard the term “cash is king”? This refers to the importance of cash flow in the overall fiscal health of a business. For small and solo law firms, cash flow is the lifeblood of running the firm. Positive cash flow allows you to:

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